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Posts Tagged ‘end the Federal Reserve’

R. Wenzel Further Exposes the Federal Reserve

Posted by Larry Doyle on May 7th, 2012 4:49 AM |

“I believe that banking institutions are more dangerous to our liberties than standing armies. Already they have raised up a monied aristocracy that has set the government at defiance. The issuing power (of money) should be taken away from the banks and restored to the people to whom it properly belongs.” Thomas Jefferson, U.S. President.

A week or so ago thanks to a regular reader, I highlighted an amazing speech given inside the New York Federal Reserve by Robert Wenzel, editor and publisher of the Economic Policy Journal.  Wenzel took the Fed to the cleaners in his remarks which I welcomed highlighting in writing R. Wenzel: Federal Reserve An Unmitigated Failure.

Wenzel is certainly one of very few who have ventured into the inner sanctum of the Fed, laid it to waste, and then been able to talk about it. What more might this financial Indiana Jones have to say about the all powerful Federal Reserve?  (more…)

Which Bank Is Leveraged 104:1?

Posted by Larry Doyle on July 14th, 2011 9:02 AM |

The road to hell is paved with positive carry.

Those in financial circles likely know that the above quote is a colloquialism used to highlight that excessive leverage can generate cash flow, that is the positive carry, but that ultimately unless properly and prudently unwound the leverage itself can lead to financial armageddon. We have witnessed this scenario time and again.

Wall Street specifically and our economy at large are continuing to lick their wounds and attempting to recapitalize from the “road to hell” we experienced beginning in 2008. While the financial system as a whole deleverages, Ben Bernanke and his minions within the Federal Reserve have leveraged up in an attempt to ‘ease the pain’. Just yesterday, Fed officials highlighted that they would continue to leverage up if need be.

In the process, I believe they will simply be moving further down that road to you know where(more…)

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